The Shyft Group (NASDAQ:SHYF) Releases FY24 Earnings Guidance

The Shyft Group (NASDAQ:SHYF) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.35-0.50 for the period, compared to the consensus estimate of $0.41. The company issued revenue guidance of $800 million, compared to the consensus revenue estimate of $811.69 million. The Shyft Group also updated its FY 2024 guidance to 0.350-0.500 EPS.

The Shyft Group Stock Performance

Shares of The Shyft Group stock traded up $0.62 during trading on Friday, hitting $12.25. 233,663 shares of the stock were exchanged, compared to its average volume of 308,139. The stock has a market cap of $421.08 million, a PE ratio of -1,225.00 and a beta of 1.65. The stock’s fifty day moving average is $12.69 and its 200 day moving average is $12.43. The Shyft Group has a 12 month low of $9.81 and a 12 month high of $17.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.19 and a current ratio of 1.86.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The company had revenue of $192.80 million for the quarter, compared to analyst estimates of $201.49 million. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The Shyft Group’s revenue was down 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share. As a group, sell-side analysts anticipate that The Shyft Group will post 0.29 EPS for the current year.

The Shyft Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Friday, August 16th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.63%. The ex-dividend date was Friday, August 16th. The Shyft Group’s payout ratio is currently -2,000.00%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson raised The Shyft Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $12.00 to $18.00 in a report on Monday, July 29th.

The Shyft Group Company Profile

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.